Are You Thinking of Setting Up A Daycare?

NEED

● Why do you want to set up a Daycare in your preferred location?
● Is there an actual need?
● Who is the competition and how are they doing?
● There could be no Daycare in a particular area and that might present an actual need or it could mean Daycares do poorly in that area so they end up closing down after a short while! On the other hand the location could be over crowded with existing Daycares hence an exhausted market.

PREMISES

● Personal or rental?
● Commercial or residential?
● Rentals push up your initial set-up cost and it is not just 1 month! Plan several months ahead.

Keep in mind change of user requirements, current condition of the premises; whether to renovate or not. The size of the premises and amenities might also limit your child capacity.

TARGET MARKET

● Does it actually exist!
● What age group are you targeting?
● Again, how is the competition doing?
● Identify the common family units and determine if there’s possible continuity that can sustain your Daycare for the foreseeable future.

LEGAL REQUIREMENTS

● Get this right depending on the type of facility you intend to put up. Daycare licensing is simpler, faster and more straight-forward than schools. A business license, health certification, fire and safety are the typical permits you might need but the overall cost varies per county and of course the number of children that you are likely to have at the Daycare.